These are selected account balances on December 31, 2011. Land (location of the corporation's office building) $100,000; Land (held for future use) 150,000; Corporate Office Building 600,000; Inventory 200,000; Equipment 450,000; Office Furniture 100,o00; Accumulated Depreciation 300,000. What is the total amount of non- current assets that will appear on the statement of financial position? Select one: a. $1,100,000 b. $1,300,000 C. $1,600,000 d. $950,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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These are selected account balances on December 31,
2011. Land (location of the corporation's office building)
$100,000; Land (held for future use) 150,000; Corporate
Office Building 600,000; Inventory 200,000; Equipment
450,000; Office Furniture 10o,000; Accumulated
Depreciation 300,000. What is the total amount of non-
current assets that will appear on the statement of
financial position?
Select one:
a. $1,100,000
b. $1,300,000
C. $1,600,000
d. $950,000
Transcribed Image Text:These are selected account balances on December 31, 2011. Land (location of the corporation's office building) $100,000; Land (held for future use) 150,000; Corporate Office Building 600,000; Inventory 200,000; Equipment 450,000; Office Furniture 10o,000; Accumulated Depreciation 300,000. What is the total amount of non- current assets that will appear on the statement of financial position? Select one: a. $1,100,000 b. $1,300,000 C. $1,600,000 d. $950,000
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